Social media started as an entertainment tool and evolved to a powerful marketing tool. While serving its primary purpose of connecting people, social media also plays a major role in connecting marketers with customers. Social media marketing is on the rise, as this type of media gains importance in the industry and shows potential for further development. Investments in social advertising worldwide are forecast to grow from around 32 billion U.S. dollars in 2017 to approximately 48 billion U.S. dollars in 2021. The United States is, by far, the largest social media advertising market in the world, as more than 14.8 billion U.S. dollars were spent on social media ads in the country in 2016 alone.
The majority of marketers see the success of social media as an important part of the overall marketing objectives of a company. Along with more traditional digital approaches and channels such as email marketing and content marketing, social networking marketing is considered one of the most effective digital marketing channels for customer retention in the U.S., a key objective of branding and marketing strategies. Marketers particularly turn to social media marketing to increase their audience engagement and brand awareness, as well as generating leads and sending traffic to the website. These are just a few of the leading social media marketing objectives. Global marketers also mentioned other benefits of using social media for marketing purposes such as providing marketplace insights, improving search ranking and improving sales.
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In the following 5 chapters, you will quickly find the 36 most important statistics relating to "Social media marketing".